IPL is scheduled to start on April 9 and the final match will be held on May 30
The series will be streamed on Disney+ Hotstar in five languages – English, Hindi, Telugu, Kannada, and Tamil.
OTT platform Disney+ Hotstar has kickstarted the preparations for the upcoming VIVO IPL 2021 by bringing on 10 sponsors for this year’s tournament. Beginning for April 9, the tourney will see Dream11 as the co-presenting sponsor, with Upstox and Vimal Elaichi as the ‘co-powered by’ sponsors. Meanwhile, Phone Pe, Association of Mutual Funds in India (AMFI), Unacademy, Pharmeasy, Livspace, Swiggy, and Parle Agro have signed on as associate sponsors.
According to industry insiders, Disney+ Hotstar has claimed `150 crore for the spot of co-presenting sponsor while the ‘co-powered by’ and ‘associate’ sponsor packages have been priced at `40 crore and `25 crore, respectively.
Further, the video-streaming platform is charging a basic CPM of `180 for ad slots. This could increase by 33-50% if a brand chooses layers of targeting. Brands can also target connected TV viewers who are using Android TVs or Amazon Fire TV Sticks at a CPM of `360.
In 2020, overall around 300 advertisers partnered with the video-streaming platform. Last year, Disney+ Hotstar put IPL behind a paywall and claimed a total reach of 260 million viewers. The platform is promising brands a reach of 280 million this year.
IPL is a prime sporting property that provides advertisers an opportunity for real-time consumer engagement on Disney+ Hotstar, Nitin Bawankule, president – ad sales, Star & Disney India. “Going by the response from the market, IPL 2021 promises to be an even more significant opportunity for brands. All key features such as Super 4s, Super 6s, Fall Of Wickets, Milestones, and Super Savers have sold out within a short period, and we see early closures across categories. With a host of innovative advertising formats, targeting on connected TVs, and custom branded content solutions, brands have the unique opportunity to reach a highly engaged and affluent audience through the sharp targeting options available on live sports,” he added.
Advertisers can invest as little as `1-5 lakh to advertise on Disney+ Hotstar. “However, brands that wish to do impactful advertising should consider spending about `15-20 lakh at least,” says Shrenik Gandhi, co-founder and CEO, White Rivers Media told to Venkata Susmita Biswas of Financial Express.
Kishan Kumar, chief growth officer & office head – South, Wavemaker India, says brands spend about 10-20% of their overall IPL budgets on Disney+ Hotstar, with television claiming the majority of a brand’s media investment.
According to Barc India, television viewership of IPL in 2020 at 400 billion viewing minutes was 23% higher than the 2019 edition, and 65% of the viewership came from the Hindi broadcast channel. Riding on the back of this growth, the broadcaster is said to be quoting an ad rate of about `12-13 lakh for a 10-second TV spot on IPL 2021.
Kumar expects there to be a homogenous mix of advertisers for the 2021 edition of IPL as opposed to 2020. Ed tech, fintech and food tech brands dominated in 2020. As the sporting event is being held during the summer as is the norm, consumer durable brands, FMCG brands, retailers, and auto brands that use IPL as a launch pad for their new models could invest ad money.
According to Duff & Phelps, the IPL ecosystem is now valued at `45,800 crore, a 3.6% decrease over 2019. The decline was largely due to Vivo pulling out of the title sponsorship deal, additional costs involved to create a secure bio-bubble environment, lack of gate receipts, etc. Santosh N, external adviser, Duff & Phelps India, noted that IPL franchisees suffered a 20-25% loss on sponsorship deals in 2020; however in 2021, the teams are doing better and could return to the 2019 levels.
The series will be streamed on Disney+ Hotstar in five languages – English, Hindi, Telugu, Kannada, and Tamil and will be exclusively available to subscribers of Disney+ Hotstar VIP and Disney+ Hotstar Premium.
*The story was updated with inputs from Venkata Susmita Biswas.